Ensuring that Contractors Have the Coverage They Need

When you look around at the local business community, contractors are arguably one of the most prevalent types of businesses you will see. From plumbers to electricians, HVAC technicians, flooring contractors, roofers, landscapers, excavators, remediation specialists, general contractors, and so many others.

These businesses are crucial to the residences and organizations that our communities are comprised of because of the vital services and expertise they offer.

Contractors work in the trenches of the construction market building new, remodeling old, and fixing existing.

Just as unique as the services they provide, are the insurance requirements their businesses need to be secure, protected, and able to grow and be more profitable.

We realize that most contractors are too busy to get familiar with the ins and outs of their policies. So, our team at J. Hoffman Insurance has created this quick check list of necessary coverage that we hope will be helpful to the contractors who are working hard to make awesome things happen every day.

Once you’ve reviewed the list, don’t hesitate to reach out to us with questions, or for a review of your current policy.

The Coverage a Contractor Needs

• General Liability is coverage that can protect you and your business from a variety of claims and or lawsuits arising from negligence, bodily injury, property damage, personal injury, advertising injury and more.
• Commercial Auto coverage protects your business against bodily injury lawsuits and property damage if you or your employee gets into an accident in a company vehicle. This coverage also provides no fault medical coverage for you or your passengers who may get injured in an auto accident. It can also provide comprehensive coverage to protect your commercial auto against damage from things like animals, theft, and fire; collision coverage for damage to your company vehicle that you or your employee have caused, towing and labor, and rental reimbursement coverage.
• Workers Compensation is a necessity as soon as you hire an employee, subcontract employees, or use any workers who are under your control. Should an employee become ill or injured on the job or because of their work, Workers Compensation provides medical benefits and can provide lost wages for that employee.
• Statutory Disability Insurance is also a necessity once you hire employees, as it covers them for lost wages due to injuries or illnesses while off the job. In New York, it also provides lost wages due to Paid Family Leave circumstances.

How Can You Be Sure You Have All the Coverage You Need?

As mentioned earlier, we know how busy contractors are and how little time they have to spend on reviewing and understanding their policies. Ideally, they shouldn’t have to spend any time at all on this. The right insurance agent will always make sure they have the coverage they need to bid on the jobs they desire, the certificates of insurance necessary to get paid for their work, and the coverage in place to make sure they pay nothing out of pocket should a loss occur.

Please don’t hesitate to reach out if you would like a review of your contracting business’s current policy and a quote to see if our team can help you secure more thorough coverage at more affordable pricing: 845-239-4787 or Jason@jhoffmaninsurance.com.